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Immunoglobulins Global Market Report 2024 To 2033 | Baxter International Inc., CSL Behring LLC, Grifols S. A., Octapharma AG, China Biologic Products Holdings Inc
Immunoglobulins Market Share
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According to The Business Research Company's, The immunoglobulins market size has grown strongly in recent years. It will grow from $17.49 billion in 2023 to $19.07 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased prevalence of immunodeficiency disorders, growing geriatric population, rising adoption of immunoglobulins in hospitals, favorable government reimbursement plans, increasing prevalence of chronic and autoimmune diseases.
The immunoglobulins market size is expected to see rapid growth in the next few years. It will grow to $28.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increasing investment for the development of advanced technologies, growing awareness about immunodeficiency therapies, rising preference among physicians for immunodeficiency therapies, increasing number of emerging markets, expansion of applications in sports and fitness.. Major trends in the forecast period include development of wearable and smart compression devices, customization of compression therapy solutions, integration of compression therapy in wound care management, emphasis on patient comfort and compliance in compression therapy, collaboration between manufacturers and healthcare providers for improved patient outcomes..
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Market Drivers and Trends:
The increasing geriatric population drives the growth of the immunoglobulins market. The geriatric population is at high risk of infectious diseases and auto-immune diseases. The immunoglobulin test determines the body's ability to produce antibodies that protect it from bacteria, viruses, and allergies. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. Thus, the increasing geriatric population is expected to increase the demand for the immunoglobulins market during the forecast period.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Baxter International Inc., CSL Behring LLC, Grifols S. A., Octapharma AG, China Biologic Products Holdings Inc., Kedrion SpA, LFB SA, Biotest AG, Sanquin Blood Supply Foundation, ADMA Biologics Inc., Option Care Health Inc., Shanghai RAAS Blood Products Co. Ltd., Antibody Solutions, Blood Diagnostic Pharma Inc., Bio Products Laboratory Ltd., Bio-Rad Laboratories Inc., Bio-Techne Corporation, Catalyst Biosciences Inc., Cytiva Corporation, Immunovant Inc., Kamada Ltd., Emergent BioSolutions Inc., Fresenius Kabi AG, GlaxoSmithKline plc, Johnson & Johnson Services Inc., Merck & Co. Inc., Pfizer Inc., Roche Holding AG, Samsung Bioepis Co. Ltd., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Zydus Cadila Healthcare Limited
Immunoglobulins Market 2024 Key Insights:
• The immunoglobulins market size is expected to see rapid growth in the next few years. It will grow to $28.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Growing Geriatric Population Fuels Demand For Immunoglobulins Market
• Expansion Of Research And Development Facilities Driving Growth In The Immunoglobulins Market
• North America was the largest region in the immunoglobulins market in 2023
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